Shares of this FMCG microcap company gained 19.99 percent after the company reported 50 percent revenue growth and more than 60 percent profit growth.
At 02:30 shares of Spectrum Foods Ltd were trading at Rs. 80.43 per share, up by 19.9 percent from previous closing price of Rs. 67.03 per share. The company has a market capitalization of 39 crores.
Such bullish stock price movements were observed after the company announced results of Q2 through a regulatory filing on Bombay stock exchange (BSE). Company reported 50 percent increase in revenue and 61 percent increase in profits compared to the same quarter in the previous financial year.
Company reported revenue of Rs. 5.04 crores in Q2FY24 that is 50 percent increase from Rs. 3.37 crores in Q2FY23 Moreover, profit reported in Q2FY24 is Rs. 3.3 crores which is 61 percent increase from Rs. 2.04 crores in Q2FY23.
Looking at the profitability ratios, the company reported return on capital employed (ROCE) of 4.67 percent and current ratio of 1.12 in the last financial year.
Incorporated in 1994 Spectrum Foods Limited is an India-based company, which is engaged in the manufacturing of salt and spices. Company specialises in popular gluten-free, wheat-free, sugar-free, and Pritikin-diet branded items. It sells them through its website efoodpantry.com.
Written by: Vinit Israni
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